TAX AND REVENUE BILLS: NATIONAL TREASURY PROVIDES PRE-TABLING INSIGHTS

TAX AND REVENUE BILLS: NATIONAL TREASURY PROVIDES PRE-TABLING INSIGHTS

• 31 October 2023
• Taxation
• SA Legal Academy

National Treasury and the South African Revenue Service (SARS) have released a joint document summarising their response to issues raised by stakeholders in their submissions and oral representations on the following draft legislation for 2023/24:

• draft Rates & Monetary Amounts & Amendment of Revenue Laws Bill
• draft Taxation Laws Amendment Bill
• draft Tax Administration Laws Amendment Bill
• draft Revenue Laws Amendment Bill, and
• draft Revenue Administration & Pension Laws Amendment Bill

This is noting that the draft Revenue Laws Amendment Bill and draft Revenue Administration & Pension Laws Amendment Bill focus on the proposed two-pot retirement system.

Among other things, the response document:

• outlines the public consultation process followed for each Bill, and
• identifies key issues on which stakeholder input was received, with comments from National Treasury and the SARS.

Revised versions of each Bill are expected to be tabled in Parliament on 1 November 2023, with the Medium Term Budget Policy Statement. A SA Legal Academy report will follow, with a link to each Bill.

• National Treasury and SARS response document

Published by SA Legal Academy Policy Watch

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